I - NEUROPACE, N O V E M B E R 2 0 2 2 Personalized, data-driven treatment for epilepsy 1 Disclaimer | 2 In addition to background and historical information, this presentation contains "forward-looking statements" based on NeuroPace's current expectations, estimates, forecasts and beliefs, including financial results for the third quarter ended September 30, 2021, information about NeuroPace's market opportunity, growth drivers and market penetration, commercial strategy, future pipeline, indication and TA ...

Neuropace, Inc. (NASDAQ:NPCE) Q3 2022 Earnings Conference Call November 8, 2022 4:30 PM ET Company Participants Philip Taylor - Gilmartin Group Michael Favet - President, CEO & Director Rebecca Kuhn - CFO, VP, Finance & Administration and Assistant Secretary Conference Call Participants Allen Gong - JPMorgan Chase & Co. Lawrence Biegelsen - Wells Fargo Securities Operator Good day, and thank you for standing by. Welcome to the Q3 2022 NeuroPace earnings conference call. [Operator Instructions]. Please be ad ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For transition period from to Commission File Number 001-40337 NEUROPACE, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 22-3550230 (I.R.S. Employer Identification Number) 455 N. Bernardo Av ...

NeuroPace, Inc. (NASDAQ:NPCE) Q2 2022 Earnings Conference Call August 11, 2022 4:30 PM ET Company Participants Matt Bacso - Investor Relations Mike Favet - Chief Executive Officer Rebecca Kuhn - Chief Financial Officer Conference Call Participants Larry Biegelsen - Wells Fargo Robert Marcus - JPMorgan Drew Ranieri - Morgan Stanley Operator Good afternoon, and welcome to NeuroPace's Second Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. We will be facilitating a qu ...

I - NEUROPACE, A U G U S T 2 0 2 2 Personalized, data-driven treatment for epilepsy 1 Disclaimer | 2 In addition to background and historical information, this presentation contains "forward-looking statements" based on NeuroPace's current expectations, estimates, forecasts and beliefs, including financial results for the fourth quarter and full year ended December 31, 2021, information about NeuroPace's market opportunity, growth drivers and market penetration, commercial strategy, future pipeline, indicat ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For transition period from to Commission File Number 001-40337 NEUROPACE, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organiz ...

I - NEUROPACE, M A Y 2 0 2 2 Personalized, data-driven treatment for epilepsy 1 Disclaimer | 2 In addition to background and historical information, this presentation contains "forward-looking statements" based on NeuroPace's current expectations, estimates, forecasts and beliefs, including financial results for the first quarter ended March 31, 2022, information about NeuroPace's market opportunity, growth drivers and market penetration, commercial strategy, future pipeline, indication and TAM Expansion Op ...

NeuroPace, Inc. (NASDAQ:NPCE) Q1 2022 Earnings Conference Call May 12, 2022 4:30 PM ET Company Participants Matt Bacso ??? Investor Relations Mike Favet ??? Chief Executive Officer Rebecca Kuhn ??? Chief Financial Officer Conference Call Participants Larry Biegelsen ??? Wells Fargo Michael Polark ??? Wolfe Research Danielle Antalffy ??? SVB Securities Drew Ranieri ??? Morgan Stanley Operator Good afternoon, and welcome to NeuroPace's First Quarter Earnings Conference Call. At this time, all participants are ...

Part I. Financial Information [Financial Statements (Unaudited)](index=5&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) NeuroPace, Inc.'s unaudited Q1 2022 financial statements show a **$11.5 million** net loss, driven by increased operating expenses [Condensed Balance Sheets](index=5&type=section&id=Condensed%20Balance%20Sheets) Total assets decreased to **$129.0 million** by March 31, 2022, while total liabilities increased to **$66.2 million** Condensed Balance Sheet Data (in thousands) | | March 31, 2022 | December 31, 2021 | | :--- | :--- | :--- | | **Total Current Assets** | $122,420 | $132,816 | | **Total Assets** | $128,982 | $133,562 | | **Total Current Liabilities** | $12,057 | $9,301 | | **Total Liabilities** | $66,159 | $60,059 | | **Total Stockholders' Equity** | $62,823 | $73,503 | [Condensed Statements of Operations and Comprehensive Loss](index=6&type=section&id=Condensed%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) Q1 2022 revenue slightly increased to **$11.4 million**, but net loss widened to **$11.5 million** due to increased operating expenses Statement of Operations Highlights (in thousands) | | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :--- | :--- | :--- | | **Revenue** | $11,374 | $11,217 | | **Gross Profit** | $8,259 | $8,493 | | **Total Operating Expenses** | $18,021 | $12,367 | | **Loss from Operations** | $(9,762) | $(3,874) | | **Net Loss** | $(11,461) | $(8,810) | | **Net Loss Per Share** | $(0.47) | $(32.73) | [Condensed Statements of Cash Flows](index=8&type=section&id=Condensed%20Statements%20of%20Cash%20Flows) Operating activities used **$11.4 million** cash in Q1 2022, leading to a **$11.7 million** net cash decrease for the quarter Cash Flow Summary (in thousands) | | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :--- | :--- | :--- | | **Net cash used in operating activities** | $(11,393) | $(5,936) | | **Net cash used in investing activities** | $(306) | $(5,035) | | **Net cash provided by (used in) financing activities** | $1 | $(1,578) | | **Net decrease in cash and cash equivalents** | $(11,698) | $(12,549) | [Notes to Unaudited Condensed Financial Statements](index=9&type=section&id=Notes%20to%20Unaudited%20Condensed%20Financial%20Statements) Notes detail accounting policies, IPO, liquidity, debt, and stock-based compensation, including ASC 842 adoption - The company has an accumulated deficit of **$435.2 million** as of March 31, 2022, but management believes existing cash, cash equivalents, and short-term investments of **$103.2 million** are sufficient to fund operations for at least the next 12 months[28](index=28&type=chunk)[29](index=29&type=chunk) - The company has a **$50.0 million** term loan with CRG Partners at **12.5%** interest per year, with the interest-only period extended to September 30, 2025, and the 2022 minimum annual net revenue covenant reduced to **$43.0 million** in March 2022[83](index=83&type=chunk)[84](index=84&type=chunk)[85](index=85&type=chunk) - Total unrecognized stock-based compensation expense related to unvested stock options and restricted stock units was **$27.3 million** as of March 31, 2022, to be recognized over a weighted average remaining period of **3.4 years**[105](index=105&type=chunk) - Upon adoption of lease accounting standard ASC 842 on January 1, 2022, the company recognized right-of-use assets of **$6.1 million** and lease liabilities of **$7.5 million**[56](index=56&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=24&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q1 2022 financial results, noting **1%** revenue growth to **$11.4 million**, increased operating expenses, and sufficient liquidity [Results of Operations](index=30&type=section&id=Results%20of%20Operations) Q1 2022 results show **1%** revenue growth to **$11.4 million**, gross margin decline, and **46%** operating expense increase, leading to a **$9.8 million** loss Q1 2022 vs Q1 2021 Results of Operations (in thousands) | | 2022 | 2021 | Change | % Change | | :--- | :--- | :--- | :--- | :--- | | **Revenue** | $11,374 | $11,217 | $157 | 1% | | **Gross Profit** | $8,259 | $8,493 | $(234) | (3)% | | **Research and development** | $5,577 | $4,100 | $1,477 | 36% | | **Selling, general and administrative** | $12,444 | $8,267 | $4,177 | 51% | | **Loss from operations** | $(9,762) | $(3,874) | $(5,888) | 152% | | **Net loss** | $(11,461) | $(8,810) | $(2,651) | 30% | - Gross margin decreased to **72.6%** in Q1 2022 from **75.7%** in Q1 2021, primarily due to higher fixed costs per unit resulting from reduced production volume caused by COVID-19 volatility[148](index=148&type=chunk) - SG&A expenses increased by **$4.2 million (51%)** due to additional personnel, increased stock-based compensation, public company operating costs, and higher marketing and travel expenses[150](index=150&type=chunk) [Liquidity and Capital Resources](index=31&type=section&id=Liquidity%20and%20Capital%20Resources) As of March 31, 2022, the company held **$103.2 million** in cash and investments, confirming sufficient capital for 12 months - As of March 31, 2022, the company had cash, cash equivalents and short-term marketable debt securities of **$103.2 million**[160](index=160&type=chunk) - The company believes its existing cash and investments will enable it to fund operating expenses for at least 12 months from the report's issuance date[160](index=160&type=chunk) Cash Flow Summary (in thousands) | | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :--- | :--- | :--- | | **Net cash used in operating activities** | $(11,393) | $(5,936) | | **Net cash used in investing activities** | $(306) | $(5,035) | | **Net cash provided by (used in) financing activities** | $1 | $(1,578) | [Quantitative and Qualitative Disclosures About Market Risk](index=35&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) Primary market risk is interest rate sensitivity on **$103.2 million** in cash and investments, not materially affected by a **10%** interest rate change - The company's main market risk is interest rate sensitivity on its **$103.2 million** portfolio of cash, cash equivalents, and short-term marketable debt securities[174](index=174&type=chunk) - Management states that due to the short-term and low-risk nature of its investments, an immediate **10%** change in interest rates would not materially affect their fair value[174](index=174&type=chunk) [Controls and Procedures](index=36&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls were effective as of March 31, 2022, and a material weakness in internal control was fully remediated - Management concluded that disclosure controls and procedures were effective as of March 31, 2022[177](index=177&type=chunk) - A previously disclosed material weakness related to segregation of duties over the review and approval of account reconciliations and manual journal entries was remediated as of March 31, 2022[178](index=178&type=chunk)[179](index=179&type=chunk) Part II. Other Information [Legal Proceedings](index=37&type=section&id=Item%201.%20Legal%20Proceedings) Legal proceedings include a CFIUS inquiry and an October 2021 stockholder lawsuit, which the company is defending - The company received an inquiry from the Committee on Foreign Investment in the United States (CFIUS) in April 2021 and is cooperating fully[79](index=79&type=chunk)[81](index=81&type=chunk) - A stockholder lawsuit was filed against the company and its board of directors in October 2021, alleging claims related to reverse stock splits, which the company believes have no merit[82](index=82&type=chunk) [Risk Factors](index=38&type=section&id=Item%201A.%20Risk%20Factors) Key risks include COVID-19 impact, single product and supplier reliance, competition, and a history of net losses - The COVID-19 pandemic has negatively impacted and is expected to continue to impact sales and operations due to delayed or canceled elective procedures, hospital staffing shortages, and reduced patient diagnostic evaluations[189](index=189&type=chunk)[192](index=192&type=chunk) - The business depends on a single product, the RNS System, and its success hinges on market acceptance, clinician adoption, and expanding patient referrals to Level 4 Comprehensive Epilepsy Centers (CECs)[200](index=200&type=chunk) - The company relies on single-source suppliers for key components like printed circuit assemblies and batteries, making it vulnerable to supply disruptions and price fluctuations[214](index=214&type=chunk)[215](index=215&type=chunk) - The company has a history of net losses, with an accumulated deficit of **$435.2 million** as of March 31, 2022, and expects to incur losses for the foreseeable future[368](index=368&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=94&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered equity sales occurred this quarter; **$105.5 million** IPO proceeds are being used as planned - There were no unregistered sales of equity securities in the quarter ended March 31, 2022[435](index=435&type=chunk) - The company received net proceeds of **$105.5 million** from its April 2021 IPO and confirms there has been no material change in the planned use of these funds[437](index=437&type=chunk) [Defaults Upon Senior Securities](index=95&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reports that this item is not applicable - The company states this item is "Not applicable"[439](index=439&type=chunk) [Mine Safety Disclosures](index=96&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) The company reports that this item is not applicable - The company states this item is "Not applicable"[441](index=441&type=chunk) [Other Information](index=96&type=section&id=Item%205.%20Other%20Information) The company reports that this item is not applicable - The company states this item is "Not applicable"[442](index=442&type=chunk) [Exhibits](index=97&type=section&id=Item%206.%20Exhibits) This section lists 10-Q exhibits, including the Term Loan Agreement amendment, officer certifications, and XBRL data - Key exhibits filed include the First Amendment to the Term Loan Agreement, CEO and CFO certifications pursuant to Sarbanes-Oxley Sections 302 and 906, and XBRL data files[444](index=444&type=chunk)

NeuroPace, Inc. (NASDAQ:NPCE) Q4 2021 Earnings Conference Call March 10, 2022 4:30 PM ET Company Participants Matt Bacso - Managing Director-Gilmartin Group Mike Favet - Chief Executive Officer Rebecca Kuhn - Chief Financial Officer Conference Call Participants Robbie Marcus - JPMorgan Priya Sachdeva - SVB Leerink Drew Ranieri - Morgan Stanley Operator Good afternoon and welcome to NeuroPace's Fourth Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. We will be facil ...